Are you looking for the solution of Question number 52 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2023-24 Edition ISC Board?
Question number 52 of Partnership Accounts – Fundamentals is a theoretical one of TS Grewal Book ISC Board 2023-24.
Question – 52
Adil, Bilal, and Ramiz are in partnership sharing profits and losses in the ratio of 4 : 2 : 1 respectively. It was provided that Ramiz’s share in profits would not be less than ₹ 7,500 in a year. Profit for the year ended 31st March 2023 was ₹ 31,500. You are required to pass the Journal entries and prepare Profit and Loss Appropriation Account.
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